Reports from Australia suggest that Hisense's OLED TV sales are low, Philips cancels plans to launch its own OLEDs

HiSense launched its Series X OLED TVs in Australia towards the end of 2018, with an initial price tag of $3,500 AUD for the 55" model. According to a new report from Australia, HiSense's OLED TV sales were lower than expected, to the point that HiSense lowered the price to $1,495 to clear its stock.

According to ChannelNews.au HiSense is likely losing money on each TV sold. According to reviews, Hisense's OLED TVs are not as impressive as OLED TVs from LG and Sony, and consumers are preferring to buy LG's OLED TVs as Hisense is not perceived as a premium brand.

ChannelNews.au also says that following HiSense's dismal OLED TVs sales in Australia, Philips has decided to cancel its own OLED TV launch in the country.